Analysts/Institutional Investor Meet/Con. Call Updates

INDGN/SE/2026-27/69 03 November 2026 BSE Limited, National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Bandra (E), Mumbai- 400001, India. Mumbai – 400 051, India. Scrip Code: 544172 Trading symbol: INDGN Dear Sir / Madam, Subject: Transcript of the conference call on financial results for the 2nd quarter and half year ended September 30, 2026 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the transcript of the conference call for the 2nd quarter and half year ended September 30, 2026, held on October 30, 2026. The above information will be made available on the website of the Company: https://www.indegene.com/ We request you to kindly take the same on record. Thanking You Yours Sincerely, For Indegene Limited Srishti Ramesh Kaushik Company Secretary and Compliance Officer Encl: A/a Indegene Limited Third Floor, Aspen G-4 Block, Manyata Embassy Business Park (SEZ), Outer Ring Road, Nagawara, Bengaluru- 560 045, Karnataka, India Phone: +91 80 4674 4567, +91 80 4644 7777 compliance.officer@indegene.com www.indegene.com CIN: L73100KA1998PLC102040 “Indegene Limited Q2 FY27 Earnings Conference Call” October 30, 2026 MANAGEMENT: MR. MANISH GUPTA – CHAIRMAN AND CHIEF EXECUTIVE OFFICER MR. SUHAS PRABHU – CHIEF FINANCIAL OFFICER MR. ABHISHEK AGARWAL – HEAD, INVESTOR RELATIONS Page 1 of 15 Indegene Limited October 30, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Indegene Limited's Q2 FY27 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star, then zero on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Abhishek Agarwal, Head, Investor Relations. Thank you, and over to you, sir. Abhishek Agarwal: Thank you, moderator. A very good morning to all of you, and thank you for joining us today for Indegene's earnings conference call for the second quarter and half year ended financial year 2027. Today, we have with us Mr. Manish Gupta, Indegene's Chairman and CEO; and Mr. Suhas Prabhu, CFO, to share the highlights of the business and financials for the quarter. I hope you have gone through our results release and the investor presentation, which have been uploaded on the website as well as the stock exchange website. The transcript of this call will be available in a week's time on the company's website. Please note that today's discussion will be forward-looking in nature and must be viewed in relation to the risks pertaining to our business. After the end of this call, in case you have any further questions, please feel free to reach out with the Investor Relations team. I now hand over the call to Manish to make his opening remarks. Manish Gupta: Thank you, Abhishek, and good morning, everyone. Let me start with the industry. For the first time in several years, the major signals are pointing the same way at the same time. Capital is back. Approvals are at a record pace. The pipeline is large and later stage. And AI has moved on to the operating agenda of almost every large biopharmaceutical company. When these turn together, the effect compounds. More funding means more trials, more trials mean more launches and every launch needs content, evidence and engagement. Let me take you through these 4 shifts and what each means for Indegene. The first one, capital and deal-making are back. Through August, pharma and biotech funding rose about 85% year-on-year to over INR69 billion. Biopharma M&A roughly doubled to around INR194 billion, and licensing & partnership deal value already exceeded all of 2025. Every acquired or newly funded medicine needs a commercial and medical home and increasingly, companies partner for it rather than build it. AI amplifies this. Productivity gains are being redeployed into more content, more personalization and more channels. And the value accrues to those who own the domain, data, the workflows and execution. That is the Indegene model. The second one, a record approval pace and faster reviews. The U.S. regulator has approved 45 novel medicines so far this year, ahead of the pace of 2023, which was a record year. Priority vouchers are cutting review times for selected medicines from about a year to 1.5 to 2 months. Faster approvals mean regulatory, safety, medical and launch work must be ready in parallel, which is exactly where our capabilities come together. Page 2 of 15 Indegene Limited October 30, 2026 The third one, a pipeline that is larger, later stage and more complex. About 12,700 molecules are in development globally, more than 2.5x the level of 2015. Growth is strongest in the later stages. Phase II is also up almost 18% and medicines awaiting approval are up by about 30%, the highest among all stages. These are the launches of the next 2 to 5 years. The science is also much more complex. Peptides, antibody drug conjugates, mRNA and cell and gene therapies are growing fastest, and each needs deeper scientific content, medical education and safety communication. At the same time, more than $400 billion worth of revenue faces patent expiry over the next decade. For us, that translates into demand. In-market brands must work harder for longer. The next launches must land perfectly and acquired assets must be integrated fast. The last one is reallocation. Large pharma is restructuring, but this is not the industry spending less. R&D spending remains above historical levels. The industry is spending differently, redirecting savings through restructuring to later-stage programs, acquisitions, AI and commercialization, moving from fixed in-house cost to flexible partner models and consolidating vendors. That favors a scale integrated partner. We heard the same from our customers at the 2026 chapter of our Indegene Digital Summit held in Philadelphia in September. More than 120 senior pharma leaders joined us and with 40% higher pharma participation than last year. The question has moved from whether AI can work in pharma to how to scale it and with whom. Two themes stood out. Operating models matter more than tools. AI succeeds when workflows are redesigned first and business owns the outcome. The second one is the physician front door is changing. Doctors increasingly find information through AI tools. So evidence quality and scientific credibility now drive influence. So let me bring the industry view together. Capital is back, approvals are at record pace, the pipeline is deeper and more complex, and the larger companies are reallocating towards flexible partnerships. That means more medicines reaching market, more complexity per medicine and a premium on partners to combine deep domain depth, technology and global scale. The industry is moving towards exactly the kind of work Indegene was built to do. With that, let me move to performance for us in this quarter. Q2 was another quarter of consistent progress. Revenues came in at INR11,223 million, up 39.5% year-on-year and 5.6% sequentially. That makes 5 consecutive quarters in which we have grown more than 5% quarter- on-quarter in INR terms. And what I find most encouraging is how evenly this growth is spread across our client base. Our top 5 accounts grew 9.2% sequentially in INR terms, and our top 20 accounts grew about 6.7%. It is still early, but our largest client relationships are starting to move upwards. The work we have been building with these clients is now steadily showing up as revenue. Outside of the top 20, growth continued as well. So our biggest relationships and our newer ones moved forward together this quarter, which is the balance we have been building towards. Page 3 of 15 Indegene L [Showing first 8,000 characters — download PDF for full document]